JXG, the parent company of the Janashakthi Group, a growing Sri Lankan financial conglomerate comprising First Capital Holdings PLC, Janashakthi Insurance PLC, and Janashakthi Finance PLC, has announced the launch of its Initial Public Offering (IPO) of LKR 5 billion.
JXG is offering 500 million ordinary shares at LKR 10.00 per share, representing a 21.74% post‑IPO stake. The independent valuation by Deloitte Sri Lanka places JXG’s per‑share value at LKR 15.92, positioning the IPO at a 37.18% discount to the valuation.
Guided by the vision of ‘Breaking Barriers, Forging Futures’, JXG reimagines wealth as a force that empowers individuals and businesses to thrive and forge their own futures. Built on decades of trust and financial-sector expertise, the Group aims to expand its financial services to drive sustainable growth for Sri Lanka and overseas.
JXG intends to utilise a portion of the IPO proceeds to expand and diversify its financial services footprint through strategic entry and expansion across the General Insurance, Microfinance, and Non-Bank Financial Institutions (NBFI) sectors with an allocation of LKR 3.5 billion. A further LKR 500 million will support regional expansion initiatives outside Sri Lanka, within its three existing verticals of investment banking, NBFI, and insurance. LKR 1 billion will be utilized to retire debt, optimize the capital structure and enhance financial flexibility.
The IPO is scheduled to open on 9th April 2026. First Capital Advisory Services (Pvt) Ltd acts as the Manager and Financial Advisor to the issue.
Chandana De Silva, Group Chairman, JXG, said, “The launch of our IPO is a historic step in JXG’s journey. It provides the capital to expand our financial services, go global, and strengthen the balance sheet. Importantly, listing strengthens the commitment to transparency and accountability, strengthening governance and accountability to all stakeholders. The offering demonstrates JXG’s confidence in Sri Lanka’s future and our purpose of reimagining wealth to empower individuals and businesses.”
Ramesh Schaffter, Managing Director/Group CEO, JXG added, “At JXG, we are building a future‑aligned financial conglomerate integrating insurance, investment banking, and non‑banking finance under one identity. Listing the parent company begins a new journey of growth, allowing us to expand overseas, broaden our financial services, and strengthen our market position. It provides an opportunity to grow and create lasting value for investors, employees, and communities.”
As JXG becomes a listed company, it commits to setting high standards of transparency to shareholders, regulators, and the public. The Board already benefits from strong independent oversight, with five Independent Non‑Executive Directors.